What happens when an employee willfully destroys your property? Typically, you eat that loss because insurance won’t cover the purposeful damage. However, if you have Imminent Peril Insurance, then there are special circumstances when you (or your employees) can break your stuff and the insurance company will ‘buy’ it.  Hopefully, that caught your attention, because it’s important to understand what CAN happen and how you can protect yourself.

How does Imminent Peril Insurance protect your production? 

Imminent Peril Insurance is part of your Extra Expense Coverages.

So, what is Extra Expense Coverage?

Suppose, one of your actors or crew members becomes sick and it forces you to shut down production. In such a case, you might suffer some financial setbacks. Cast Extra Expense covers the losses associated with the interruption of business and the extra costs to get you back into production.

Imminent Peril Insurance is similar, except it pays for damages you cause to prevent further, more costly damage.

An Example of Imminent Peril Insurance Coverage

 Let’s say a small fire erupts on the set. In order to prevent the fire from damaging some valuable equipment, you willfully destroy parts of your set in order to keep the fire from spreading. Because you were seeking to prevent further damage, your Imminent Peril Insurance should cover the cost of rebuilding the set.  If you evacuated the building, it can even cover the cost of lost production time.

Consider how often unforeseen disasters occur. Nobody plans for storms, earthquakes, fires, or even cars crashing into buildings. Yet, it does happen. Why not add Extra Expense Coverage and Imminent Peril Insurance and protect your investments.

As with most insurance coverage, there are some exclusions to Extra Expense Coverages. You should contact your production insurance agent and discuss exactly which types of insurance you need for your project.

For more information on production insurance in California, contact Equipment & Production Insurance. The team at Equipment and Production Insurance are film, photographic & entertainment industry insurance specialists. Whether you need short-term, annual, post, documentary, commercial, equipment, rental house, E&O, or rent your own insurance, you can rely on their quick and knowledgeable assistance to meet all of your production insurance needs.